-1- Thai Oil Public Company Limited Q1/2017 Opportunity Day Presentation 31 May 2017 Time : 11.20 – 12:35 hrs. Venue : Stock Exchange of Thailand, Building B, Room 603
-2- Disclaimer The information contained in this presentation is intended solely for your personal reference. Please do not circulate this material. If you are not an intended recipient, you must not read, disclose, copy, retain, distribute or take any action in reliance upon it. Some statements made in this material are forward-looking with relevant assumptions, which are subject to uncertainties, which may cause the actual result/performance to be materially deviated from any future result/performance implied by such forward-looking statements. Please note that the company and management/staff are not capable to control and guarantee if these forward-looking statements will be accurately materialized, they are subject to various risks and uncertainties.
-3- Corporate Vision, Mission and Values A LEADING FULLY INTEGRATED REFINING & PETROCHEMICAL VISION COMPANY IN ASIA PACIFIC • To be in top quartile on performance and return on investment • To create a high-performance organization that promotes teamwork, innovation and trust for sustainability MISSION • To emphasis good Corporate Governance and commit to Corporate Social Responsibility Professionalism Excellent Striving Vision Focus Ownership & Commitment VALUES Initiative Social Responsibility Integrity Teamwork & Collaboration
-4- Corporate Governance Corporate Governance Policy Roles and Responsibilities The board of directors, management and all staff shall for Stakeholders commit to moral principles, equitable treatment to all stakeholders and perform their duties for the company’s interest • Truthfully report company’s with dedication, integrity, and transparency. situation and future trends to all Anti-Corruption Policy stakeholders equally on a timely manner. The Board, the management, and employees must not • Shall not exploit the confidential corrupt or accept corruption of all forms in any circumstances, covering the business of the Company in every country and in information for the benefit of every relevant agency. The Company defines guidelines, related parties or personal gains. operating measures, and roles and duties of responsible persons, • Shall not disclose any confidential as well as regularly monitoring and reviewing the information to external parties. implementation of the anti-corruption policy in compliance with changes in businesses, rules, regulations, and relevant laws. Whistle-Blowing Channels Chairman of the Board or cgcoordinate@thaioilgroup.com Chairman of the CG Committee or Should you discover any Chairman of the Audit Committee or +66-0-2797-2999 ext. 7440-7442 ethical wrongdoing that is CEO/President or Company Secretary not compliance to CG +66-0-2797-2973 Thai Oil Public Company Limited policies or any activity that 555/1 Energy Complex Building A could harm the Company’s 11F, Vibhavadi Rangsit Road, http://www.thaioilgroup.com interest, please inform: Chatuchak, Bangkok 10900
-5- Our Achievement in Sustainable Development The World Most Sustainable Oil & Gas Refining and Marketing Company (from 28 invited companies in oil & gas refining and marketing industry) 4 For consecutive years 60 industries 3,420 companies invited 2,473 companies assessed* For 4 consecutive years *cover companies outside DJSI invitation
-6- Presentation Agenda TOP GROUP OVERVIEW Q1/17 KEY HIGHLIGHTS Q1/17 PERFORMANCE ANALYSIS 2H-17 & 2017 MARKET OUTLOOK
-7- TOP GROUP OVERVIEW
-8- Thai Oil Group Business Structure PTT 26.0% 100.0% 100.0% 74.0% 100.0% 100.0% Thai Paraxylene Thai Lube Base Thaioil Power Thaioil Marine Thaioil Ethanol Thaioil (TOP) (TPX) (TLB) (TP) (TM) (TET) Aromatics Capacity: Lube Base Oil • 5 Oil & Chemical Tankers Sells Electricity/Steam to Paraxylene Capacity : 50.0% Capacity : Capacity : 52,350 DWT Sapthip (SAP) Group 527,000 tons/annum Base Oil 275,000 barrels/day • Crude Tankers: 3VLCCs Small Power Producer Cassava Based Ethanol Mixed Xylene 267,015 tons/annum Capacity: 881,050 DWT Program Capacity : 200,000 lts/day 52,000 tons/annum Bitumen 14 crew & utility boats • 3-on-1 Combined Cycle Benzene 350,000 tons/annum (120 DWT each) Others 57.4% BCP 21.3% Electricity 118 MW 259,000 tons/annum TDAE 21.3% • 2 Large vessels for crude, Steam 216 tons/hour Ubon Bio Ethanol (UBE) Total 838,000 tons/annum 67,520 tons/annum feedstock & product storage and transportation Cassava/Molasses Based Plant TOP SPP 75.0% Mitsui 25.0% 100.0% services Capacity : 400,000 lts/day LABIX Company Limited 2 Small Power Producers Capacity: 200,000 DWT (LABIX) Total capacity: 239 MW • Ship management services Steam capacity 498 T/H LAB producer and distributor 100.0% COD 2016 PTT 40.4% Thaioil Energy Services Capacity: 120 KTA COD: 2016 TP 20.8% (TES) Others 50.4% 9.2 % PTT 22.6% 100.0% Proceeds the business on PTTGC 22.7% various professional of Thaioil 8.9% management services Thappline (THAP) Global Power Synergy Thaioil Solvent Public Company Limited Multi-product Pipeline PTT 40.0% Through TOP Solvent (TS) 20.0% Capacity:26,000 m.lts/y PTTGC 20.0% Principal power plant of PTT 80.5% 100.0% IRPC 20.0% Total Equity Capacity PTT Energy Solutions 1,922 MW of electricity Solvent distribute (PTTES) Sak Chaisidhi Top Solvent 1,582 tons/hour of steam PTT ICT Solutions in Thailand (SAKC) Vietnam Provides engineering 2,080 Cu.m./hour of Industrial (PTT ICT) Solvent manufacturer Solvent distribute in technique consulting services PTT Group water 20.0% Capacity : 141,000 Vietnam 80.0% 12,000 RT of Chilled water tons/annum Net Profit 48% 27% 14% Contribution 11% (Avg. from 2006 – Q1/17)
-9- Key Milestones: 55 Years, A Long Track Record of Success 1961 – 1997 2004 – 2011 Today Capacity expansion and initial stage of Listing, expansion and A leading integrated refining and business diversification diversification petrochemical group in Asia Pacific • 1961 1970 2004 275 kbd refinery ( approximately 22% • • • Incorporated Refining capacity IPO and listed on the SET of Thailand’s total refining capacity) • • expanded to 65 kbpd Acquired remaining shares in Nelson index 9.8 1 • 1964 Thai Paraxylene and Thai Diversified business through 13 • Commenced 1989 Lube Base which became our subsidiaries • • operation with Increased refining wholly-owned subsidiaries The 3rd largest listed company distillation capacity of capacity to by revenue in Thailand 2011 35 kbd 90 kbpd • Simple refinery with 2013-2014 Nelson complexity • 2010 Established LABIX Index ~ 4 1 • Invested in power biz via 2007 -2008 GPSC & TOP SPP • Completed Emission 2004 1993-1997 Improvement, HVU-2 1970-1989 Debottlenecking & CDU-3 1961 – 1964 Preheat Train project 2015-2016 2010 2007 • 2015 Revenue 293,060 MB • • Established Increased refining capacity to 275 kbd • 1993 2015 Net profit 12,181 MB Thaioil Ethanol • We expanded our refining capacity to 190 kbd • Completed Projects: LABIX • Production 2008 & TOP SPP • expansion of The first refinery in Thailand with diesel 1994 – 1997 TDAE by production to comply with the sulfur • 2011 Increased total refining capacity to 220 kbd 50,000 tons per content requirements of Euro IV • • Manufactured diesel and Initial investment in Thai Paraxylene (“TPX”) and • annum Capacity expansion of Thai Paraxylene ULG in compliance with the Thai Lube Base (“TLB”) with total aromatics capacity of 900,000 • sulfur and BZ aromatics IPT became the first IPP to enter into a PPA with tons p.a. EGAT 2 with 700 MW capacity ; separately, Thaioil content requirements of the • Invested in Solvents business in Euro IV Power (“TP”) constructed the power generation Acquired 1 st VLCC Thailand and Vietnam • plant under the SPP with 118 MW capacity Note 1. Based on our internal estimates using the methodology of the Nelson Complexity Index 2. The Electricity Generating Authority of Thailand (“EGAT”) is the national grid
-10- TOP Group Synergy & Strategic Role in PTT Group Value Chain Upstream Intermediate Downstream Solvent Pentane Diversifying to a broad Hexane Toluene range of downstream SOLVENTS The majority of Mixed-Xylene products to enjoy higher refined petroleum profit margins and Paraxylene products are sold domestically to Mixed-Xylene reduce earnings PTT Toluene volatility AROMATICS Benzene LPG REFINERY Gasoline PLATFORMATE REFINED CRUDE IMPORT Jet/Kero PETROLEUM LONG RESIDUE Diesel Fuel Oil Lube Base Oil Slack Wax Extract TDAE LUBE BASE Bitumen PTT is our POWER TP provides electricity and steam principal domestic to Thai Oil, TLB and TPX and sells NATURAL GAS customer for its remaining power to the national our lube base grid products Thai Oil’s Businesses
-11- Q1/17 KEY HIGHLIGHTS
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